Setting up risk defaults

1.  Click the Schedule tab. In the Settings group, click Options..
2. Click the Risk tab.
3. Enter the default settings for the chance of:
   • risk occurrence
   • type of outcome
   • result of outcome.
     The result of outcomes is used to calculate outcomes for Relative Delay and Cost or Income Increase, as well as all user defined risk outcomes for non-schedule risks.
4. Select the default distribution for the moment of risk. This distribution is used to define when risk would occur during the course of project. It is defined by distribution type (uniform or triangular), and three parameters defining start, most likely, and finish time of risk occurrence expressed as a percent of total task duration starting from the beginning of the task. For example:
   • Distribution: Triangular
   • Start: 50%
   • Most likely: 80%
   • End: 100%
   • With this example with a task of 10 days, the risk could occure after tje 5th day and would most likely would occur on 8th day.
5. Select the risk chance option. The chance can be defined per task (by default) or per duration unit. For example, 30% chance that task can be restarted per day. If task duration is 2 days, chance of risk occurrence per task will be 60%. This option works for all projects. You cannot have different risks with chance applied to the duration unit or chance applied to the complete task for the same project at the same time.
6. Enable or disable automatic generation of Risk ID and define rules for automatic generation of risk ID.
7. Enable or disable statistical distribution for risk outcomes. For more information about statistical distribution of risk outcomes, read Uncertainties in Risk Outcomes or click What is it?
8. Define correlation of risk assignment. One risk can be assigned to different tasks or resources or the risk can be assigned globally (to all tasks or resources). These risk events may occur at the same time (risk assignments are correlated) on in different times (risk assignments are not correlated). If check box Risk assignments to different tasks are correlated is checked, all local and global assignments of the same risk will be correlated by default. You can always change correlation of local risk assignment:
   • Go to the Risk Assignment view or Task Information/Resource Information dialog boxes.
   • Double click on risk assignment ID
   • Go to correlation tab
   For more information click on What is it? button. This feature is available for version 6.1 and later
9. Set up risk visibility (approval) rules (RiskyProject Enterprise only). For more information read Risk visibility (Approval) rules for RiskyProject Enterprise.
10. Enable or disable statistical distribution for risk outcomes. For more information about statistical distribution of risk outcomes, read about Uncertainties in Risk Outcomes or click on What is it? button.
11. Update Risk Status when risk probability/impact are changed. If you change risk probability and impact, new record will be added to Risk Status View for the specific risk.

See also

Risks in RiskyProject
Setting up your project defaults
Risk visibility (Approval) rules for RiskyProject Enterprise
Setting up your projects